Question

5. A' and B' are partners in a firm sharing profits and losses in the ratio of 6:4 Their balance sheet as on 31.03.2017 was as follows.

Balance Sheet as on 31.03.2017

Rs

Assets

20,000 Cash at Hand

6,000 Debtors 20,000

4,000 Less: PDD 00 Stock

Buildings

70,000 Furniture

Liabilities

Creditors

Bills Payable

Reserve Fund

Capitals: А

B

Rs

5,000

8.000 17,000

30,000

30,000

On 01.04.2017, 'C' is admitted into the partnership on the following terms: a) He brings ? 25,000 as capital and ? 8,000 towards goodwill for 1/6th share

in the future profits.

b) Depreciate furniture at 10% and appreciate buildings by 20%.

c) Provision for doubtful debts is no longer.

d) Provide 1,000 for repair charges. e) Goodwill is to be withdrawn by the Old Partners.

Prepare: i) Revaluation Account

ii) Partners' Capital Accounts & iii) Balance Sheet of the firm after admission.

(Ans: Profit on Revaluation Account ? 4,000, Capital Account balance: A - 7 44,800, B - 33,200, C - ? 25,000, Cash Account 38,000, Balance Sheet total 1,30,000)​

Answer 1

Answer:

last one is 2000 plz mark me as the branliest ☺️

Answer 2

Explanation:

balance sheet photo's please